Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
BCM
User Panel

Posted: 9/6/2010 10:57:16 AM EDT
During "open enrollment" for life insurance at work, just how open is it? If a guy is diagnosed with fast-moving cancer a month before the open enrollment period, can he still walk in and buy a zillion dollars worth of life insurance?
Link Posted: 9/6/2010 10:59:04 AM EDT
[#1]
don't they usually limit you to 1x salary per year of service unless you fill out a health application for the added coverage?



e.g. year 1 you can get 1x salary, year 2 you can add another x to get 2x salary, etc.



That's how mine works up to about 6x salary.
Link Posted: 9/6/2010 11:02:11 AM EDT
[#2]
You can join regardless of your health status.  Most policies will have a limit that you can buy without any evidence of insurability, usually one or two times salary.  After the limit set by the insurer, you need to submit to a physical and blood work.


ETA:  Former Group Benefits Agent.  ^^
Link Posted: 9/6/2010 11:03:54 AM EDT
[#3]
During last year's open enrollment, anyone wanting to purchase additional life insurance was greeted with a health questionnaire.  I was declined.  
Close Join Our Mail List to Stay Up To Date! Win a FREE Membership!

Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!

You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.


By signing up you agree to our User Agreement. *Must have a registered ARFCOM account to win.
Top Top